Wellchange Holdings Co Ltd key statistics and ratios

In fiscal 2025, Wellchange Holdings Co Ltd had return on equity of -91.2%, an operating margin of -469.1%, debt equal to 7.5% of equity and a current ratio of 4.59. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Wellchange Holdings Co Ltd: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	78.9%	78.0%	70.0%	42.7%
Operating margin	56.2%	47.5%	−19.8%	−469.1%
Net margin	46.7%	37.7%	−18.7%	−543.2%
Free-cash-flow margin	62.4%	32.0%	−13.7%	−468.7%
Return on equity	96.1%	66.8%	−12.5%	−91.2%
Return on assets	—	28.4%	−8.6%	−72.1%
Asset turnover	—	0.76	0.46	0.13
Current ratio	—	0.75	1.04	4.59
Debt to equity	0.0%	49.7%	17.7%	7.5%
Interest cover (operating income ÷ interest)	—	68.1x	n/m	n/m
Effective tax rate	16.8%	19.8%	—	—
Capital spending as % of revenue	7.5%	0.0%	0.0%	0.0%
Free cash flow ÷ net income	133.6%	84.9%	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 6 checks passed · December 31, 2025

What it owns · $14m

Short-term assets $6mLonger-term assets $8m

What it owes, and who funded it · $14m

Short-term liabilities $1mLonger-term liabilities $1mShareholders' equity $11m

Short-term assets cover short-term liabilities $6m of assets due within a year against $1m of liabilities due within a year.
Short-term assets cover long-term liabilities $6m short-term assets against $1m of longer-dated liabilities.
More cash than debt $3m of cash against $831,894 of debt.
Debt below 40% of shareholders' equity Debt is 7% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$6m of operating cash flow against $831,894 of debt.
Operating profit covers interest at least five times over Operating income of −$6m against $12,437 of interest.

From Wellchange Holdings Co Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Wellchange Holdings Co Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Wellchange Holdings Co Ltd.